House Panel OKs Eased Pension Funding for Local Newspapers

A House bill that would ease the funding requirements for community newspaper pension plans passed the Ways and Means Committee July 18.

The bill (H.R. 6377), which the committee approved by voice vote, would extend the time frame for small, privately owned community papers to contribute funds to their pensions, meaning they would pay less in the short-term. Lawmakers noted that many of their local papers’ pensions are at risk of insolvency. The bill was formally introduced July 16, and is sponsored by Reps. Erik Paulsen (R-Minn.) and David Reichert (R-Wa.).

“During a time of sweeping industry consolidation ...